#LongPuts#LEAPS – I’ll take a shot with a half size starter. Longer term bearish mainly due to contango and global warming 🙂 . Going out to 2020 since option prices aren’t that much more to get an extra nine months. I’ll sell aggressively in the beginning and then hopefully be able to get out of the way later on. Planning on selling about every 30 days so still only need 23 cents in each sale.

I bought to close the January 40 puts @ 1.25 which is where I sold them. I am trying to close all my positions at my cost if I can. I feel that with the FED raising rates, the market is vulnerable and the damage done to the market means to me that we are no longer in a bull market. I will keep my position in the TQQQ and write short dated covered calls against my 2021 60 calls.

Bistro VIX Indicator for Tuesday 11/20

Tuesday’s levels to watch: further Downside Warnings would fire with closes at 22.20 and 22.68. The warning would be canceled with a close at or below 14.89, or an SPX high above 2,940.91. Click here for more info on the VIX Indicator.

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